The cryptocurrency market is very young and promising, with its limits yet to be discovered. Cryptocurrencies are built on blockchain technology, a type of database that was first mentioned in 1991 by two researchers named Stuart Haber and W. Scott Stornetta who wanted to implement a system in which the data timestamps could not be corrupted or altered.
The first cryptocurrency project was made public by the pseudonymous individual or group known as Satoshi Nakamoto, who published a white paper for Bitcoin in 2008. According to Nakamoto, Bitcoin aims to serve as a purely peer-to-peer version of electronic cash, functioning as it should without the need for a third party (in most cases a financial institution) to confirm payments and prevent double-spending.
Until today, more than 10000 cryptocurrencies have been built upon blockchain technology, many of which have started to experiment with the unlimited possibilities that this technology offers. A fairly young but promising cryptocurrency is Holo (HOT). Unlike most cryptocurrencies, Holo is built on Holochain technology, a type of technology that is thought to be an improved version of blockchain technology. But how did Holo come into existence? What purpose does it serve? Will it outlive its competitors? These and many more questions will be talked about throughout this article.
What is Holo (HOT)?
First off, Holo was launched in 2018 as an ERC-20 token created by Arthur Brock and Eric Harris-Braun; one being a Distributed App Architect and the other a BS in Computer Science at Yale, respectfully. The team initially started working on this project on the last day of 2016, during which time they started to build Holochain – an open-source framework for advancing microservices in order to run peer-to-peer applications solely on end-user instruments while being decentralized. Holochain is much like Blockchain, seeking to decentralize transactions by making them P2P, getting rid of the need for a middle-party. Holochain is a framework for distributed applications, using a completely unique approach known as the Agent-Centric approach.
|Price(At the Press time)||$0.0080|
|Circulating Supply||172.67B HOT|
|All Time High||$0.03157 (April 05, 2021)|
|All Time Low||$0.0002189 (March 13, 2020)|
Holochain is powered by the Holo token, its native cryptocurrency. Holo allows anyone to turn their computer into a source of income by allowing them to host distributed applications, getting paid in HoloFuel in return. At the time of writing, HoloFuel can be directly swapped to Holo token in a 1:1 ratio; this is thought to continue even after the Beta Mainnet launch since the company announced that both tokens are planned to be kept in circulation. According to BitcoinWiki, Holo is a practical contract – serving as a bridge for people to shift toward greater decentralization. Since cryptocurrencies as a whole are new and emerging, it must interact with the centralized systems that are existent today in order to grow. This is the case for Holo as well. That being said, several parts of Holo are also centralized.
Since each Holo host uses its own network, there is no particular date when Beta Holo Mainnet will be released, however, something like that will be done by allowing each host to participate in DApp hosting on the Holochain – a process which is believed to be done by the end of 2021.
Holo (HOT) Price Analysis
Holo is a project that started its development by the end of 2016 and was launched in 2018 as an ERC-20 token. This means that Holo is young in the cryptocurrency jungle where prices skyrocket and plummet in a matter of hours. Being part of this market with high volatility, Holo was taken for a ride several times. Holo entered the market with a price of $0.0007, and only days later, the coin hit the price of $0.0017, experiencing a 143% increase and setting a new all-time high. The coin sat around that price for some months, until the beginning of June 2018, when its price started a continuous downtrend. This downtrend went on for nearly two months, leaving the coin with a price of $0.0003, around 82% lower than the all-time high that was set earlier that year.
These price changes continued until February 2021, a month that marked the beginning of Holo’s bull run. In just two weeks, the coin’s price jumped from $0.0008 to $0.0035, leaving Holo investors with an increase of 337% on their investment. However, that increase was just the beginning of the heights the price was about to reach. Holo hit a new all-time high in mid-April, skyrocketing to a price of $0.028. To put this into perspective, if an individual invested in Holo at the beginning of 2021, his investment would grow by 4566% by April – meaning that a $100 investment would turn into $4556 in a matter of months. Nevertheless, because of the last market correction, Holo is now sitting at a price of $0.009.
Holo (HOT) Price Prediction 2021
Seeing such a good year until now, Holo does not plan to stop soon according to many experts and websites. As stated by DigitalCoinPrice, Holo might get back on its feet during the next few months, hitting a price of $0.0135 by August. Additionally, DigitalCoinPrice predicts that Holo may close the year 2021 with a price of $0.0125, around 55% under its current all-time high. On the other hand, GovCapital has a more pessimistic forecast regarding Holo, hinting that the coin might close the year around the price of $0.0096. Even though this may seem like a low price for Holo to close the year with, we should keep in mind that the coin entered 2021 sitting at $0.0006, and closing the year with a price of $0.0096 should be considered as a positive thing.
The most optimistic prediction regarding the price of Holo during 2021 is that of BuyHolo, which forecasts that the potential price of Holo might reach somewhere between $0.10 to $0.50 by the end of 2021. Though this may be considered not so realistic by many, the cryptocurrency market is being heavily implemented day by day, and with more companies and individuals using and investing in it, the prices of coins as qualitative as Holo may potentially skyrocket – reaching groundbreaking heights.
Another thing worth mentioning is the attempts of many governments on creating their own cryptocurrencies. Countries such as the United Kingdom, the United States, and Norway have all announced that they are experimenting with their own cryptocurrencies, attempting to create their own stablecoins whose price would be directly linked with their respective fiat currency. If their plans go accordingly and they succeed in launching their own government-controlled stablecoins into the cryptocurrency market by 2021, this market might witness the biggest increase it has ever seen.
Holo (HOT) Price Prediction 2022, 2023, and 2024
The next few years look promising for the whole cryptocurrency market and Holo in particular. DigitalCoinPrice predicts that, by 2022, Holo might hit the price of $0.015, marking another year of slow but steady growth for the coin. The same can be said for 2023, during which year the coin might experience a growth of 20%, hitting the price of $0.018 by the end of it. The year 2024 is predicted to be the year that Holo might again break the $0.02 mark by potentially hitting the price of $0.022.
On the other hand, GovCapital’s forecast shows more gains for the coin. According to their prediction, Holo might hit $0.015 by the end of 2022 and $0.022 by the end of 2023. To put the cherry on top, GovCapital predicts that Holo may reach a price of $0.032 by the end of 2024, breaking its current all-time high. Taking a look at all of these predictions, it is safe to say that Holo’s price will potentially steadily grow throughout the next few years.
Holo (HOT) Price Prediction 2025 and 2030
Being a very young cryptocurrency, Holo has proved itself to be fairly beneficial to many investors. Throughout this decade, as more people and institutions begin using Holochain technology, Holo’s price will most probably see major changes. According to DigitalCoinPrice, the year 2025 might prove to be a huge year for Holo, leaving the coin with the potential price of $0.031 and a new all-time high. Based on their forecast, Holo might quadruple its price until 2028, reaching a new height of $0.041. Another forecast is that of GovCapital, which states that Holo may hit the price of $0.050 by mid-year 2026.
On the contrary, BuyHolo predicts that Holo’s price might potentially skyrocket throughout this decade. According to their forecast, Holo’s price may sit between $0.50 and $2.00 by 2025, potentially seeing an increase of 22100% in a span of five years. Additionally, based on the forecast done by BuyHolo, the coin’s price will potentially dwell between $2.00 and $5.00, which would possibly mean a 55455% increase in your investment if you invested in Holo today.
Will Holo Reach $1?
Holo reaching $1 seems very possible to many experts. According to CoinPedia, Holo may potentially hit $1 but not by the end of 2021. Moreover, BuyHolo predicts that the coin might reach $1 by the end of 2024 if it continues its current uptrend. As for every coin, there are some checkpoints that have to be met in order for them to get more attention from the media – attention that proved itself to be very fruitful for certain cryptocurrencies. As for Holo, a checkpoint that many are expecting it to hit is the price of $1. In order to understand what hitting $1 means for the Holo token, we have to look at the coin’s current market capitalization and circulating supply. At the time of writing, Holo has a market cap of $1.5 billion and a circulating supply of 172.6 billion Holo, leaving it with a price of $0.009. In order for it to hit the price of $1 with this circulating supply, around $170 billion must be dropped into its market cap. To put it in simple words, Holo must have half the market cap of Ethereum – the second largest cryptocurrency at the time of writing – in order to hit the price of $1.
So will Holo reach $1? Based on the predictions of many experts, it is safe to say that Holo may potentially reach $1 throughout the next few years.
Holo Price Prediction – Our Opinion
We at Crypto Academy predict that Holo may reach a price between $0.20 to $0.73 by the end of this year. The last bull run was huge for Holo, and there are indicators implying that the next one will be even bigger, sending the price of Holo to the moon.
At Crypto Academy, we estimate that Holo might reach the price of $1 by the end of 2022, a realistic estimation considering the uniqueness and useability of the coin.
Will Holochain Succeed?
It has been more than a decade since the blockchain technology was introduced to the world through Bitcoin; and, even though a decade has passed, the limits of blockchain technology are still unknown. Providing this much space for inventions that have proven to be very beneficial for most of us, blockchain technology may be considered as something very revolutionary by many.
However, this technology is the first of many to come. Holochain technology is a Distributed Ledger Technology (DLT) – just like blockchain – that claims to be beyond the promises of blockchain. As mentioned above, this is just the beginning of cryptocurrencies and blockchain technology, and because of that, there is much room to grow for every project – not to mention extremely promising and revolutionizing projects like Holo. Holochain has a strong foundation and a good team behind it to improve it along the way, therefore, for a project as credible and innovative as Holochain is, the future may be very positive.
Is Holochain Better Than Blockchain?
Both Holochain and Blockchain technologies are Distributed Ledger Technologies (DLTs), making them serve the same purpose – eliminating the need for a centralized system to secure a database against manipulation. Yet, both of these DLTs have their own specifications, one being better than the other in some aspects and vice versa. Down below, we are going to list some of the advantages that Holochain technology has above Blockchain technology.
- Mining – Holochain does not need miners in order to validate transactions since its nodes run on individual chains.
- Transaction Speed – Holochain uses each node to process its own ledger, meaning that it has limitless scalability and TPS (Transactions Per Second)
On the other hand, we should acknowledge that there are some aspects in which Blockchain technology is superior. One of these is the requirement for a global agreement. If a system requires global consensus, Blockchain Technology is the ideal solution.
But is Holochain better than blockchain? There cannot be an absolute answer regarding this question since it all depends on the intention that the user has for its system. However, if we must take sides, we would go with Holochain because of its adaptability, efficiency, and better scalability.
How do I Buy Holo?
Since cryptocurrencies are getting acknowledged more and more each day, buying them has never been easier. The easiest way to buy Holo is by using a cryptocurrency exchange, be that a decentralized exchange (DEX) or a centralized exchange (CEX). There are many ways that you can buy cryptocurrencies using exchanges, the main ones being:
- Using a Credit/Debit Card
- Using Wire Transfer
- Using Paypal/Skrill
At the time of writing, Holo is listed on Gate.io, Binance, HitBTC, BigONE, Bitrue, and BitMart. In order to buy Holo, you must deposit the desired amount of fiat currency into the exchange of your choice, convert it to a stablecoin (highly recommended), and use that stablecoin to buy Holo.
Holo is a very credible coin with a serious team behind it, hence, there are many market pairs where you can trade your cryptocurrencies in order to obtain Holo. The main market pairs for Holo regarding their trading volume are HOT/BTC, HOT/ETH, HOT/LTC, and HOT/BUSD.
How to Buy Holo on Binance?
Binance is the biggest cryptocurrency exchange by trading volume, with more than $28 billion flowing through the exchange during the last 24 hours. Binance is one of the many cryptocurrency exchanges that have listed Holo, making it way easier for everyone to invest in the coin and have some for themselves. Buying Holo on Binance is done through these six simple steps:
- Download the Binance app on your electronic device
- Create an account using your legal name and surname
- Verify your account by using a state-issued Identification Document
- Use one of the payment methods available in order to deposit fiat currency into the exchange
- Locate a market pair that includes HOT and the fiat currency that you deposited (if there is no HOT market pair for your fiat currency, trade your fiat currency for USDT or BUSD and then use them to buy HOT through HOT/USDT and HOT/BUSD)
- Enter the preferred amount of Holo you want to claim and click BUY.
How to Buy Holo on TrustWallet?
Most cryptocurrency exchanges have hot wallets implemented in them. However, some of them have started to build their own cold wallets that are supposed to be a more secure place to store your crypto assets. Binance has followed these steps and in 2017, it launched its wallet known as Trust Wallet. At the time of writing, this wallet is available only on smartphones. This wallet has its own Decentralized Exchange implemented in it, yet, you can still use other DEXs through its native browser – a good example would be PancakeSwap. When it comes to Holo, the only way to buy Holo on Trust Wallet is using Ethereum. To buy Holo on Trust Wallet, you have to follow these steps:
- Download Trust Wallet and Binance on your smartphone
- Create a wallet
- Buy and send a small amount of BNB from your Binance account to your Trust Wallet
- Buy and send the preferred amount of ETH from your Binance account to your Trust Wallet
- Go to Decentralized Exchange (DEX) on the Trust Wallet app
- At the top of the DEX tab, locate Swap
- Swap your ETH in exchange for Holo tokens
Because the process of buying Holo is way easier and cheaper using Binance or any other cryptocurrency exchange, we do not recommend using Trust Wallet to buy this particular coin. Albeit, storing your Holo tokens in this wallet may be a good idea.
Is Holo a Good Investment?
Investing in a project that is still in its early stages is always recommended by many financial experts, however, they never fail to mention the risks that come with investing. Cryptocurrencies have been around for more than a decade now, experiencing huge growth during the last few years. Many experts in this field predict that the cryptocurrency market has a long way to go, meaning that we could potentially see even crazier price increases throughout the upcoming years.
Having a price of only $0.009 at the time of writing, Holo is a very affordable coin. According to many predictions done by various experts, Holo does not plan on stopping soon. The coin might continue its growth throughout the decade and potentially hit the price of $5.00 per coin by the end of it. Hence, buying and holding some Holo tokens today may prove as a very fruitful investment to every investor.
- Holo uses Holochain Technology, unlike most cryptocurrencies that use Blockchain Technology.
- Holo was launched in 2018 as an ERC-20 token.
- During the last bull run, Holo saw a huge price increase of 4566%, setting a new all-time high of $0.028.
- Holo token has a Circulating Supply of 172.6 billion and a Total Supply of 177.6 billion; making it the third biggest cryptocurrency in terms of Circulating Supply.
- It is predicted that Holo might reach $1 in a span of 3-4 years.
- According to many predictions, the price of the coin might skyrocket throughout this decade; with the most optimistic prediction being that of BuyHolo which gives it a potential price of $5.00 by 2030.
- Holo token is listed on cryptocurrency exchanges such as Binance, Gate.io, HitBTC, BigONE, Bitrue, and BitMart.
- You can obtain HoloFuel by hosting Holochain DApps. At the time of writing, HoloFuel can be traded with Holo token with a 1:1 ratio.
- Many experts predict that the uptrend of the price of Holo may continue, meaning that now is a good time to invest in it.